Clink is an intuitive, mobile app that allows you to save with its easy-to-use platform that invests a portion of your money into a diversified portfolio to provide a return. It was developed by financial industry veterans who recognized how intimidating saving and investing can be to the average individual.
Clink is for anyone who is looking to build a more financially-secured future at any age. It’s never too early to start saving, but investment options can be complicated and difficult to understand. Clink provides a simple, straightforward and free way to invest and grow your savings. It delivers a hassle-free, mobile-based approach.
Clink puts the power of saving in your hands. Our free platform links your checking account to your Clink account and allows you to determine how much money you would like to contribute to a diversified portfolio and how often. The Clink scheduler allows you to easily pick what days you want to add money to your Clink account and determine the set amount. You can make changes to this setting at any time. Clink makes saving easy by associating the process with shopping and dining activities. Going out to dinner or doing some online shopping? You can set a percentage of your bill that will be automatically added into your Clink account and invested in your stock portfolio. Simply link your credit card to your Clink account to shop and save.
Clink is available both on iOS devices via iTunes and Android version that will be available in Google Play.
Clink manages your investment portfolio based on how aggressive or cautious you would like to be. The money from your Clink account will be placed into a portfolio of Exchange- Traded Funds (ETFs). An ETF is an investment fund traded on the stock exchange and holds assets such as stocks, commodities, or bonds. ETFs are ideal for your investments because of its low costs, tax efficiency and stock-like features. Clink currently uses Vanguard based ETFs. Specifically, a basket of 6 different one. Our current portfolio holds the following ETFs: VOO, VWO, VCIT, VGK, VTIP and BND.
Clink’s algorithm applies a low-risk portfolio that’s right for you based on the “Modern Portfolio Theory.” The Modern Portfolio Theory is all about diversification and is the key to maximizing return with minimal risk; it emphasizes that risk is an inherent part of higher reward.
The investments you choose through Clink are held by Apex Clearing Corporation, a brokerage and clearing firm that works with many of the most innovative investment services. APEX CLEARING is a member of FINRA, SIPC. You can learn more about them here: https://www.apexclearing.com
No, Clink does not store your banking details. Your banking credentials are only used once to authenticate and verify that the account belongs to you. All credit card information is stored by ENVESTNET, a leading provider of unified wealth management technology and services to investment advisors. Clink is an SEC Registered Investment Adviser.
To create a Clink account, simply download the app, enter your details, and link your checking account to the platform to start investing. If you prefer, you can also set up your Clink account online and enter all the relevant details from your laptop or tablet then download the app to start investing in your future
If you are using micro deposits to verify your bank, the entire process can take 5-6 business days to link your bank and transfer funds. After your Clink account is complete and verified, it takes 1-3 business days for micro deposits to appear in your linked bank account. Your next step is to confirm those micro deposits in the app and your bank will be linked. At this point, the transfer will be requested and will become available within 2-3 business days. After your bank is linked and verified, future deposits will take 2-3 business days.
If you are using your bank login information to link your bank with Clink, your transfer will be available within 2-3 business days.
Business days are Monday through Friday, with the exception of federal banking holidays.
As a financial institution, The Patriot Act requires that Clink obtain, verify and record information that identifies each person opening a Clink account. We require your SSN to ensure you are a real individual.
Clink uses bank-level security measures to protect your personal information. Clink is hosted on Amazon’s server service and your password, social security number, and other sensitive data is are all encrypted to ensure maximum protection. Our mobile and web applications communicate securely using SSL and 256-bit encryption.
You can automatically schedule funds to be added to your account by selecting the amount and specific dates you would like it to move from your checking account into your Clink account where it will be placed in a diversified portfolio. You can also schedule a percent of your spending (every time you use your credit card) to be added to your Clink account after transactions.
Clink reminds all customers to always make sure that their bank account has the proper funds before committing a transfer to the app. If, for any reason, transfers/investments made by you (or because of a setting which you configured in the app) are charged back due to insufficient funds or cause an overdraft on your checking account, Clink will not be responsible for any of these NSF or overdraft fees charged to you by your bank. In the event of an Apex Clearing (ACH) bank reversal, a $30 fee will be incurred by the user. Clink is not responsible for any ACH reversal fees incurred by the user.
An Apex Clearing (ACH) bank reversal takes place when a transfer of funds is cancelled. This may occur when there are insufficient funds in your bank account, there is a duplicate transaction, the transaction is denied, or when the type of account is incorrect. In the event of an ACH reversal, a $30 fee will be incurred by the user and the funds will be returned to the original account. Clink is not responsible for any ACH reversal fees incurred by the user.
There’s no minimum investment with Clink. If you utilize the Clink scheduler, the least amount you could invest on a continuous basis, is $1 daily (which will be deposited every 5 business days as $5).
If you’ve forgotten your login details, please select the “Forgot username/password” at the bottom of the login page and follow the instructions. If you’re still having trouble, please reach out to customer service, (please insert support email).
Yes, you can close down your account at any time. Please note that simply removing the app from your phone does not close your investment account, nor does it cancel any pending or scheduled transactions from your linked bank account into your Clink account. To close your account, please reach out to firstname.lastname@example.org. In the subject line please write "Close My Account" and we will take it from there. Please allow 72 hours for us to process your request and to send you a confirmation email on when the account will be Closed.
Clink is designed to simplify investing. We have several investment portfolio options based on how aggressive you would like to be with your investments. Therefore, you cannot select specific stocks to invest in but our system helps you to get the best return for your investment.
Once your Clink account is active and you savings start flowing from your checking account into your Clink Account, we will start purchasing the ETFs which comprise your portfolio and you’ll be able to see how much money you have in each ETF via your “Portfolio” tab in the Clink menu.
There is always some risk associated with investing. However, if the market goes down, some of its components will go up ensuring maximum reward for your investment. Although each asset class within your portfolio by itself may be quite unpredictable, the volatility of your entire portfolio can be quite low.
There is a $10,000 daily limit.
Money withdrawals can be done at any time. There are a few rules and regulations that need to be followed when withdrawing money.
1. If your money is invested then it will take 3 days to settle with our custodian brokerage Apex clearing and another 2 days to arrive in your account
2.The only way your funds would be delayed is if you made a deposit manually or a scheduled deposit. There is an anti-money laundering law that requires that the Funds sit for 5 business days before any withdrawal can be made.
3. When withdrawing your funds you might only be able to withdraw a portion of what you have because of the 5 business day anti-money laundering law. Once the holding period is satisfied you could withdraw the rest of your funds.
If you change your funding account with Clink and then attempt to withdraw funds that originated from a different account, our bank will reject that withdrawal. This occurs to protect you and to prevent fraudulent activity. If this happens, email email@example.com and we can speak with our bank and approve the withdrawal. We may need additional documentation from you to prove that you are the owner of the bank account.
Clink will start charging a flat fee of $1 a month for managing your account (up to $5,000 of balance). When your balance is over $5,000 we charge 0.25% of your total balance annually.
No additional charges apply. Historically Clink was completely free but in order to continue to grow and provide the best service we can we need to generate revenues.
However, any of our users who signed with us until July 1st 2016 will not be charged going forward and we will honor our commitment to them to supply our services free for life.
The current list of fees that Clink or the Custodian may change for irregular services or occurrences are as follows:
Funds Transfers Automated Clearing House (ACH) Deposit or Withdrawal - Free
Returned ACH - $30/occurren
* Deposits and Withdrawals in the Program are regularly done by ACH transfer.
Some other savings-based apps put your money into a low-interest savings account but Clink invests your money in an Exchange Traded Funds (ETF) which provides a higher return for you
Clink is only available for U.S. residents. There are plans for expansion and we will post updates of availability in other countries as we continue to grow.
To open an account for your custodian, your child has to be younger then 18 years old.
The fee on the custodian account is $2 a month for one child. If you want to add another child it will only cost $1 for each child that you add.
UGMA and UTMA accounts are considered college savings accounts. The UGMA (Uniform gift to Minor’s act) and UTMA (Uniform transfer to minor act) are used to hold and protect assets for minors until they reach the age of majority in their state. These accounts are NOT for high risk investments.
You can give each dependent up to $14,000 or $28,000 as a married couple yearly. These are amounts you can transfer without triggering the gift tax.
Withdrawals from the custodian account must be for the benefit of the child. The money can be used for any purpose, including school, and may be made as often as necessary. Withdrawals from the account are taxed at the child’s tax rate.